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Published on 11/06/2019 9:40:57 AM | Source: Choice Broking Pvt Ltd

JPYINR were slightly positive on Monday trades, settled on flat note - Choice Broking

Posted in Currency Report| #Currency Tips #Choice Broking

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USDINR

Technical View:

USDINR has traded positively during the Monday session and settled with 0.26% gain.

On the daily chart, pair has reversed back after taking a support at lower Bollinger band formation.

Moreover, pair has shifted above 50 days DEMA on the daily timeframe.

Furthermore, a momentum indicator RSI (14) and MACD has indicated positive crossover on the daily chart.

So based on the above analysis, we expect bullish movement in USDINR (June) towards 70.10 level.

 

JPYINR

Technical View:

JPYINR were slightly positive on Monday trades, settled on flat note.

On the daily chart, pair has been forming Cup & Handle pattern, which indicates bullish set-up in the pair.

Moreover, price has sustained above 50 DEMA , which may support the buying trend.

Furthermore, a momentum indicator RSI (14) has shown positive crossover, which suggest continue buying strength for near term.

So based on the above technical aspects, we expect further upside in JPYINR (June) towards 64.70 level.

 

GBPINR

Technical View:

GBPINR has traded into negative direction on Monday session.

On a weekly timeframe, pair has still been trading below trend line and 21 weeks SMA.

On the daily scale, pair has been facing resistance at upper Bollinger band formation and 50 days DEMA.

In addition, a momentum indicator RSI (14) and MACD has shown negative crossover, which suggest further downside in the prices.

So based on the above technical structure, we expect sideways to bearish move in GBPINR (June) towards 88.20 level.

 

EURINR

Technical View:

EURINR extended the gain by 0.52% on Monday and made a high of 79.01 after a long time.

On the daily chart, pair has been trading between two consecutive line, where it has sustained above upper Bollinger Band formation .

In addition, pair has consolidated above 50 DEMA on the daily scale.

A momentum indicator RSI (14) and MACD has show positive crossover on the daily timeframe, which suggest northward move in the pair.

So based on the above studies, we expect bullish movement in EURINR (June) future towards 79.30 level.

 

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